On July 21st 2014 (Venezuela local time), Chinese President Xi Jinping attended the Closing Ceremony of the 13th Meeting of the China-Venezuela High-level Mixed Committee. During the period of closing ceremony, JAC Motor (Hong Kong) Limited Company signed the 5329 units’ heavy-duty trucks procurement contract with Venezuela Ministry of Transportation and Corpovex S.A., and the total amount of this contract is $270 Million.
According to the contract, JAC heavy-duty trucks will be shipped to Venezuela Puerto Cabello in the form of CIF. Since the date of contract singing, JAC Motor (Hong Kong) need to delivery all the trucks to Puerto Cabello for Corpovex S.A. And Corpovex S.A will prepay 50% total contract amount- $136.9158 Million as its prepayment and the remaining funds will be paid according to the agreement. This big order will boost JAC products sales and enhance JAC brand influence in domestic and overseas.